Aon partners with SBC InsurTech on commercial and speciality lines

Re/insurance broker Aon has partnered with SBC InsurTech, a company focused on innovation programmes for the insurance industry, help its clients make better decisions around how they might partner with and invest in insurtech start-ups.

Aon will focus on CoLab’s ‘Commercial and Specialty Lines’ sector, which aims to look at specific problems in key customer segments ranging from SME to large industrial insurance.

Aon said its goal is to specifically address the challenges its re/insurer clients face, that have not developed a startup ecosystem on their own. By teaming up with SBC InsurTech, Aon’s Reinsurance Solutions business aims to reignite the debate on tackling the challenge of providing cover for uninsured risks, notably intangible assets.

“Aon is committed to helping clients navigate the InsurTech ecosystem and adopt new technologies that advance strategic initiatives," said Kelly Superczynski, head of EMEA analytics for Aon’s Reinsurance Solutions business at Aon.

"Working with CoLab means we can match startups with new product development to deliver growth opportunities. This will ultimately provide customers with broader insurance protection and risk management while enabling insurers to stay ahead of the game with a competitive advantage.”

SBC said it will work with the Aon team to establish the particular problems that Aon and its clients want to see solved.

Sabine VanderLinden, CEO at SBC InsurTech, said: “SBC InsurTech is committed to delivering targeted innovation programs that address real business challenges faced by the insurance industry, within blurred ecosystem boundaries that fast-moving technology creates.”

SBC InsurTech CoLab engages multiple industry players for each CoLab sub-sector. For commercial and specialty lines, Zurich Insurance is also part of the programme.

Antony Elliott, group head of business transformation at Zurich Insurance Group, said: “We see the SBC CoLab approach as an accelerated and agile way agile way for us to work with InsurTech startups to solve customer and industry problems.”

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